Selling Your Startup

10Preparing for a Successful First Meeting

After you've initiated or accepted conversations with a potential acquirer or merger partner, the next step is successfully nailing that first meeting.

At this point, you've identified your ideal or target acquirers or at least vetted those inbound inquiries to make sure they are a good fit. You've tested their interest, followed up intelligently, prepared a winning pitchbook, and have made sure you have a direct line of communication with real dealmakers who can make decisions.

Now it is time to arrange and prepare for a real meeting about this potential M&A deal. This crucial meeting can be make or break.

If things go well and they find synergy and love you, other future glitches and issues can be survived and forgiven. If you don't nail the first meeting, then it is unlikely you'll get a second. Even if you do, you will already be on the defensive and trying to force it to work from a less advantageous point.

Success here relies a lot on preparation and planning. This means being prepared with the right materials and data, being in the right mindset, and understanding the thinking of those on the other side of the table. You need to know the questions and answers. You need to know how to run a meeting that has great flow and gives you the upper hand in negotiations. And you need to know how to close the meeting.

Don't miss the opportunity. Don't rush it and burn it because you aren't really ready.

Finding Out the Strategic Road ...